UNITED STATES SECURITIES and EXCHANGE COMMISSION Washington, D.C

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ፤ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended October 31, 2011 Or អ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-4423 HEWLETT-PACKARD COMPANY (Exact name of registrant as specified in its charter) Delaware 94-1081436 (State or other jurisdiction of (I.R.S. employer incorporation or organization) identification no.) 3000 Hanover Street, Palo Alto, California 94304 (Address of principal executive offices) (Zip code) Registrant’s telephone number, including area code: (650) 857-1501 Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Common stock, par value $0.01 per share New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer as defined in Rule 405 of the Securities Act. Yes No អ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes No ፤ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No អ Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes No អ Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. អ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of ‘‘large accelerated filer,’’ ‘‘accelerated filer’’ and ‘‘smaller reporting company’’ in Rule 12b-2 of the Exchange Act. (Check one): Large accelerated filer ፤ Accelerated filer អ Non-accelerated filer អ Smaller reporting company អ (Do not check if a smaller reporting company) Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes No ፤ The aggregate market value of the registrant’s common stock held by non-affiliates was $85,752,487,000 based on the last sale price of common stock on April 30, 2011. The number of shares of HP common stock outstanding as of November 30, 2011 was 1,984,033,497 shares. DOCUMENTS INCORPORATED BY REFERENCE DOCUMENT DESCRIPTION 10-K PART Portions of the Registrant’s proxy statement related to its 2012 Annual Meeting of Stockholders to be filed III pursuant to Regulation 14A within 120 days after Registrant’s fiscal year end of October 31, 2011 are incorporated by reference into Part III of this Report. Hewlett-Packard Company Form 10-K For the Fiscal Year Ended October 31, 2011 Table of Contents Page PA RT I Item 1. Business ........................................................ 3 Item 1A. Risk Factors ..................................................... 16 Item 1B. Unresolved Staff Comments ......................................... 32 Item 2. Properties ....................................................... 32 Item 3. Legal Proceedings ................................................. 33 PA RT I I Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities ...................................... 34 Item 6. Selected Financial Data ............................................. 36 Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations .................................................... 37 Item 7A. Quantitative and Qualitative Disclosures about Market Risk .................. 69 Item 8. Financial Statements and Supplementary Data ............................ 71 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure ..................................................... 158 Item 9A. Controls and Procedures ............................................ 158 Item 9B. Other Information ................................................ 158 PART III Item 10. Directors, Executive Officers and Corporate Governance .................... 159 Item 11. Executive Compensation ............................................ 159 Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters ............................................. 159 Item 13. Certain Relationships and Related Transactions, and Director Independence ...... 160 Item 14. Principal Accounting Fees and Services ................................. 160 PA RT I V Item 15. Exhibits and Financial Statement Schedules .............................. 161 Forward-Looking Statements This Annual Report on Form 10-K, including ‘‘Management’s Discussion and Analysis of Financial Condition and Results of Operations’’ in Item 7, contains forward-looking statements that involve risks, uncertainties and assumptions. If the risks or uncertainties ever materialize or the assumptions prove incorrect, the results of Hewlett-Packard Company and its consolidated subsidiaries (‘‘HP’’) may differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to any projections of revenue, margins, expenses, earnings, earnings per share, tax provisions, cash flows, benefit obligations, share repurchases, currency exchange rates, the impact of acquisitions or other financial items; any statements of the plans, strategies and objectives of management for future operations, including execution of restructuring and integration plans; any statements concerning the expected development, performance or market share relating to products or services; any statements regarding current or future macroeconomic trends or events and the impact of those trends and events on HP and its financial performance; any statements regarding pending investigations, claims or disputes; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the impact of macroeconomic and geopolitical trends and events; the competitive pressures faced by HP’s businesses; the development and transition of new products and services (and the enhancement of existing products and services) to meet customer needs and respond to emerging technological trends; the execution and performance of contracts by HP and its suppliers, customers and partners; the protection of HP’s intellectual property assets, including intellectual property licensed from third parties; integration and other risks associated with business combination and investment transactions; the hiring and retention of key employees; assumptions related to pension and other post-retirement costs; expectations and assumptions relating to the execution and timing of restructuring and integration plans; the resolution of pending investigations, claims and disputes; and other risks that are described herein, including but not limited to the items discussed in ‘‘Risk Factors’’ in Item 1A of this report, and that are otherwise described or updated from time to time in HP’s Securities and Exchange Commission reports. HP assumes no obligation and does not intend to update these forward-looking statements. PART I ITEM 1. Business. HP is a leading global provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses (‘‘SMBs’’) and large enterprises, including customers in the government, health and education sectors. Our offerings span: • personal computing and other access devices; • multi-vendor customer services, including infrastructure technology and business process outsourcing, technology support and maintenance, application development and support services and consulting and integration services; • imaging and printing-related products and services; and • enterprise information technology infrastructure, including enterprise storage and server technology, networking products and solutions, IT management software, information management solutions and security intelligence/risk management solutions. HP was incorporated in 1947 under the laws of the State of California as the successor to a partnership founded in 1939 by William R. Hewlett and David Packard. Effective in May 1998, we changed our state of incorporation from California to Delaware. 3 HP Products and Services; Segment Information Our operations are organized into seven business segments: the Personal Systems Group (‘‘PSG’’), Services, the Imaging and Printing Group (‘‘IPG’’), Enterprise Servers, Storage and Networking

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